Sales

$516,60
0

$410,00
0

$
%

Sales
returns
and
allowanc
es

12,200

10,000

Net
sales

$504,40
0

$400,00
0

Cost of
goods
sold

240,000

200,000

Gross
profit

$264,40
0

$200,00
0

Selling
expenses

69,600

60,000

44,800

40,000

Administ
rative
expenses

Total
operating
expenses

Income
from
operation
s

114,40
0

100,00
0

$150,00
0

$100,00
0

Other
income

12,600

10,000

Income
before
income
tax

$162,60
0

$110,00
0

Income
tax
expense

9,000

5,000

Net
income

$153,60
0

$105,00
0

Sales
$516,600
$410,000
$
$106,600
%
26.00%
Sales returns and allowances
12,200
10,000
$2,200
22.00%
Net sales
$504,400
$400,000
$
$104,400
26.10%
Cost of goods sold
240,000
200,000
$40,000
20.00%
Gross profit
$264,400
$200,000
$
$64,400
32.20%
Selling expenses
69,600
60,000
$9,600
16.00%
Administrative expenses
44,800
40,000
$4,800
12.00%
Total operating expenses
$114,400
$100,000
$
$14,400
14.40%
Income from operations
$150,000
$100,000
$
$50,000
50.00%
Other income
12,600

10,000
$2,600
26.00%
Income before income tax
$162,600
$110,000
$
$52,600
47.82%
Income tax expense
9,000
5,000
$4,000
80.00%
Net income
$153,600
$105,000
$
$48,600
46.29%

Ch 14 Problem 4B (3pts)
7/1/2014
Ch 14 Problem 2B (3pts)
10:25 AM
Ch 14 Problem 1B (3pts)
7/1/2014
Ch 13 Terminology (4pts)
10:25 AM
Ch 13 Problem 3B (3pts)
7/1/2014
Ch 13 Problem 1B (3pts)
10:25 AM
7/1/2014
10:25 AM
7/1/2014
10:25 AM

Default

Closed

unlimited

0.00%

Default

Closed

unlimited

0.00%

Default

Closed

unlimited

0.00%

Default

Closed

unlimited

0.00%

Default

Closed

unlimited

0.00%

Sales

2012Amount
2012Percent
2011Amount
2011Percent 2011Percent
Sales
630000 105.00%
630000
%

%
504000

504000

105.00%

%
Salesreturnsandallowances
30000
5.00%
30000
%

Salesreturnsandallowances

24000

24000

5.00%

600000

Netsales
600000

100.00%

Netsales

%
480000

480000

100.00%

%
Costofgoodssold
330000
55.00%
330000
%

Costofgoodssold

259200

54.00%

Grossprofit
270000
270000

45.00%

259200

Grossprofit

%
220800

220800

46.00%

%
Sellingexpenses
144000
24.00%
144000
%

Sellingexpenses

86400

%
86400

18.00%

%
Administrativeexpenses
72000
12.00%
72000
%

Administrativeexpenses

62400

62400

Totaloperatingexpenses

13.00%

Totaloperatingexpenses
216000
36.00%
216000
%

%
148800

148800

31.00%

%
Incomefromoperations
54000
9.00%
54000
%

Incomefromoperations

%
72000

72000

%
Otherincome
24000
24000

15.00%

Otherincome

19200

19200

Incomebeforeincometax

4.00%

4.00%

Incomebeforeincometax
78000
13.00%
78000
%

91200

%
91200

19.00%

%
Incometaxexpense(benefit)
48000
8.00%
48000
%

Incometaxexpense(benefit)

38400

Netincome(loss)

38400

8.00%

Netincome(loss)
30000
5.00%
30000

%
52800

52800
%

11.00%